New York State Common Retirement Fund Sells 6,388 Shares of SAP SE (NYSE:SAP)

New York State Common Retirement Fund trimmed its stake in SAP SE (NYSE:SAP - Free Report) by 25.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,286 shares of the software maker's stock after selling 6,388 shares during the quarter. New York State Common Retirement Fund's holdings in SAP were worth $4,909,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SAP. Kathmere Capital Management LLC lifted its holdings in shares of SAP by 6.2% during the first quarter. Kathmere Capital Management LLC now owns 4,011 shares of the software maker's stock valued at $1,077,000 after purchasing an additional 234 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of SAP by 5.7% during the first quarter. Ballentine Partners LLC now owns 7,627 shares of the software maker's stock valued at $2,047,000 after purchasing an additional 411 shares in the last quarter. Berbice Capital Management LLC lifted its holdings in shares of SAP by 28.6% during the first quarter. Berbice Capital Management LLC now owns 450 shares of the software maker's stock valued at $121,000 after purchasing an additional 100 shares in the last quarter. Riversedge Advisors LLC lifted its holdings in shares of SAP by 25.1% during the first quarter. Riversedge Advisors LLC now owns 1,432 shares of the software maker's stock valued at $384,000 after purchasing an additional 287 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its holdings in shares of SAP by 15.8% during the first quarter. Diversify Wealth Management LLC now owns 14,242 shares of the software maker's stock valued at $4,167,000 after purchasing an additional 1,938 shares in the last quarter.

SAP Stock Performance

SAP traded up $1.46 during midday trading on Friday, reaching $287.62. The company had a trading volume of 481,634 shares, compared to its average volume of 1,321,345. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $300.33 and a two-hundred day moving average of $282.62. The company has a market cap of $353.34 billion, a P/E ratio of 47.62, a P/E/G ratio of 4.12 and a beta of 1.30. SAP SE has a 1 year low of $194.93 and a 1 year high of $313.28.

SAP (NYSE:SAP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.07. The business had revenue of $10.58 billion during the quarter, compared to analysts' expectations of $9.10 billion. SAP had a return on equity of 14.77% and a net margin of 18.26%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 earnings per share. As a group, equities research analysts predict that SAP SE will post 6.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays reaffirmed an "overweight" rating and set a $308.00 price target (up from $286.00) on shares of SAP in a report on Thursday, April 24th. BMO Capital Markets increased their target price on SAP from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Piper Sandler began coverage on SAP in a report on Tuesday, June 17th. They issued an "overweight" rating on the stock. JMP Securities increased their target price on SAP from $330.00 to $375.00 and gave the company a "market outperform" rating in a report on Wednesday. Finally, Wall Street Zen raised SAP from a "hold" rating to a "buy" rating in a report on Sunday, June 29th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $279.33.

SAP Profile

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.